Special Needs Trust in Florida | The Law Office of Jordan W. Jacob

The Law Office of Jordan W. Jacob

Your Lawyer for Life...and After™

Florida Estate Planning.

Protect your assets and your legacy.

Special Needs Trust.

Providing for someone with special needs requires special planning.

Adults and children with special needs require special planning. Leaving money outright to those individuals may disqualify them from eligibility and qualification for government benefits needed for their care.

A Special Needs Trust in Florida (also called a Supplemental Needs Trust) (SNT) is a specialized trust that is specifically designed to hold assets in a way that allows the beneficiary (the person in need of care) to preserve or obtain need-based government benefits such as SSI or Medicaid.

Stick helps a special needs loved one
Stick helps a special needs loved one

Adults and children with special needs require special planning. Leaving money outright to those individuals may disqualify them from eligibility and qualification for government benefits needed for their care.

A Special Needs Trust in Florida (also called a Supplemental Needs Trust) (SNT) is a specialized trust that is specifically designed to hold assets in a way that allows the beneficiary (the person in need of care) to preserve or obtain need-based government benefits such as SSI or Medicaid.

Restrictions on Special Needs Planning

A valid Special Needs Trust in Florida is limited to individuals age 65 years or younger who meet certain qualifications, and requires specific provisions not found in standard trusts. For example, the beneficiary of a Special Needs Trust in Florida (the person receiving special care) cannot be the grantor (creator) or trustee (administrator) of the trust.

Instead, a Special Needs Trust in Florida is created by a parent or grandparent who wants to provide for the care of a loved one, and the trust assets are managed by an independent, professional trustee. The trust assets are then used to maintain and increase the beneficiary’s quality of life by purchasing products or services that are not covered by SSI or Medicaid.

Importantly, assets placed into a properly designed Special Needs Trust in Florida do not count for Medicaid and SSI eligibility, and an unlimited amount of assets may be placed in the trust.

When is a Special Needs Trust in Florida needed?

  • A person has a disability requiring lifelong care;
  • A Medicaid recipient receives an unexpected windfall of money;
  • A parent with disabled child doesn’t want to disinherit their child;
  • A Medicaid applicant earns too much income to qualify for Medicaid.

Be cautious using a Special Needs Trust in Florida

Depending on the type of Special Needs planning, money remaining in a Special Needs Trust in Florida may need to be paid back to the government for services and care provided, or it may be permitted to go to other family members or charities.

If you have a family member or loved one that needs supplemental care due to special needs, contact me today to learn more about how to provide for that person with a Special Needs Trust in Florida.

←Previous: Dynasty Trust

Next: Pet Trust→

Stick does not know how to get from A to B

Not sure where to start to protect the things you own and the people you love?

See what estate plan is right for you.

Let's Work Together.

Ready to go? Schedule your estate planning design session with me today.

Let's Chat.

Not ready to plan? No worries. Schedule a no-cost initial consultation.

Contact Me.

If you have a question or just want to connect, get in touch today.